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HELP! - New flat, shoddy work, won't sell, in big mess
go4it
Posts: 313 Forumite
First off please don't shout I me! I have been stupid and have been well and truly done over.
Bought an off plan apartment back in Feb for 87000. Given all the talk, nice area, seemed like good development. Was told would be ready for April. Finished in October.
Was told that if I had any problems I had 10 days to get back to them. Problem was I was snowed under with work and didn't have time to give it the once over. Shortly after, due to my job changing, I decided to put the flat on the market as I can't guarantee I will now afford it.
Had 7 viewings, all say it's too small. that's not really the problem, as it's designed as a compact man-flat. Thing is the workmanship is so shoddy - splashes of paint everywhere, splinters coming off the doors. I've had a painter / decorator come around as he describes it as typical cowboy work.
The interior of the apartment block is shoddy as well. The painter /decorator, who is also a family friend, said he was surprised the it was ever passed. I'm shocked that my mortgage company passed it, they reinspected it the day before completion.
The flat does not have NHBC, but has a 10 year 'Architects' Warranty which I was told was equivalent.
What can I do? I need to sell it, the market for flats is dead. I even contacted the 'sell your home now' firms - offers vary from 50K to 74K. I know that I might need to sell for less and take this as a bad lesson.
Anyway I can go back to the developer? I bought directly from them as a private sale and cut out the estate agents.
Bought an off plan apartment back in Feb for 87000. Given all the talk, nice area, seemed like good development. Was told would be ready for April. Finished in October.
Was told that if I had any problems I had 10 days to get back to them. Problem was I was snowed under with work and didn't have time to give it the once over. Shortly after, due to my job changing, I decided to put the flat on the market as I can't guarantee I will now afford it.
Had 7 viewings, all say it's too small. that's not really the problem, as it's designed as a compact man-flat. Thing is the workmanship is so shoddy - splashes of paint everywhere, splinters coming off the doors. I've had a painter / decorator come around as he describes it as typical cowboy work.
The interior of the apartment block is shoddy as well. The painter /decorator, who is also a family friend, said he was surprised the it was ever passed. I'm shocked that my mortgage company passed it, they reinspected it the day before completion.
The flat does not have NHBC, but has a 10 year 'Architects' Warranty which I was told was equivalent.
What can I do? I need to sell it, the market for flats is dead. I even contacted the 'sell your home now' firms - offers vary from 50K to 74K. I know that I might need to sell for less and take this as a bad lesson.
Anyway I can go back to the developer? I bought directly from them as a private sale and cut out the estate agents.
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Comments
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Most developers worth their salt will offer you a NHBC guarantee and two years for snagging. Immediate snagging should be dealt with without any silly 10 day timescales. If they have integrity, they ill fix it for you, if they have a name to uphold, they should fix it for you. Otherwise, it's time to fix it yourself
"Too small" is an issue because it indicates that people expect more for the price - they're telling you it's too expensive. Quite a bot of feedback like this and you need to drop the price to sell.Everything that is supposed to be in heaven is already here on earth.
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I have dropped the price by 3K. Was valued at 91950, have now dropped to 88950, that is my break even figure when I factor in solicitor costs etc.
I'm going to contact the company. They have other projects in the city. Our local rag loves a 'cowboy builder' story, so that is an option!0 -
to be honest, any buyer will be considering why you want to sell when its only been completed a month. They will of course be considering that you bought off plan to "flip"
the shoddy workmanship isnt good.
Name the developer on here, im sure someone may have had dealings with them?:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
!!!!!!'s a 'Man-flat'? Do you mean it's a studio?Illegitimi non carborundum.0
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Why did you buy it?
To flip, to let or to live in? Can you get it fixed up and afford to let it?0 -
you are one of many thousands countrywide who were persuaded to buy inner city flats - you will almost certainly have to sell it and lose money - the flat is not worth what you paid for it and the market is dropping
sell fast now and get out with as little negative equity as you can - it will only get worse if you leave it longer0 -
stick it on the market for £80k for a quick sale, if no offers then take the 74k offer.
fact is you admit you have been daft and are about to get spanked for it, faffing about isnt going to help. 8k is a pig but you will lose fare more if you dont get shot fast.
the chances of reselling a badly finished, small, new build and a probably declining market at a reasonable price is low so the faster you move the better. you can lose 8k now or a lot more later, hell you could end up stuck in the place for 5-10 years.0 -
I suspect the £74k offer is an estimate over the phone though
Might be lower once they've had someone out.
IMO spending a little to do it up would probably be worthwhile both to help it sell and to get as much back as possible.0 -
Completely O/T BettiePage, but your signature makes me smile. Sad geek that I am I'm afraid I do now how to read it!
Got a degree in Latin and Greek... 0
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